Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Peter Rahmer Sells 32,156 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 32,156 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the sale, the insider now owns 357,507 shares in the company, valued at approximately $1,483,654.05. The trade was a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peter Rahmer also recently made the following trade(s):

• On Monday, January 6th, Peter Rahmer sold 16,576 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.45, for a total value of $73,763.20.
• On Monday, October 28th, Peter Rahmer sold 1,621 shares of Relay Therapeutics stock. The stock was sold at an average price of $6.06, for a total value of $9,823.26.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $4.57 on Tuesday. Relay Therapeutics, Inc. has a 1-year low of $4.01 and a 1-year high of $12.14. The stock’s 50-day moving average is $4.90 and its 200 day moving average is $6.38. The company has a market cap of $764.94 million, a P/E ratio of -1.75 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. During the same period in the prior year, the company posted ($0.54) EPS. Relay Therapeutics’s revenue for the quarter was down 100.0% compared to the same quarter last year. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RLAY shares. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. dropped their price target on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. HC Wainwright dropped their price target on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Stifel Nicolaus reissued a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.50.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RLAY. Allspring Global Investments Holdings LLC boosted its holdings in Relay Therapeutics by 6.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock worth $292,000 after acquiring an additional 2,547 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics in the second quarter worth about $37,000. Rhumbline Advisers boosted its holdings in Relay Therapeutics by 4.8% in the second quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock worth $1,069,000 after acquiring an additional 7,508 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock worth $499,000 after acquiring an additional 7,680 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Relay Therapeutics in the third quarter worth about $63,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company’s lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.